Oct 8, 2026 earnings call — New CEO and medtech growth momentum
Guidance: net sales expected $336 million to $341 million for fiscal 2027.
Revenue $0.1B (est $0.1B) · EPS $-0.04 (est $-0.11) · Next-quarter revenue outlook $0.3B–$0.3B
Key quotes
"As a result, MedTech now represents approximately 49% of our total revenue."
"Total revenue was $8.3 million an increase of 29% with probes growing 24.1% and capital sales growing 53.5%."
"On the clinical front, we are encouraged by the ongoing progress in our AlphaReturn and AngioVac right sided infective endocarditis IDE studies. Both of which are seeing strong enrollment."
Analyst Q&A 4
NanoKnife disposables and thrombectomy growth
Q (Frank Takkinen · Lake Street): He asked when placed NanoKnife systems start driving higher disposable sales and utilization. He also asked for updates on mechanical thrombectomy commercial changes and about cash use and cash generation outlook.
A: Management said disposable sales are the best way to judge NanoKnife growth and that utilization will vary by system and market. They said Alphavac will drive mechanical thrombectomy growth and commercial changes are contributing now. They said Q1 is the biggest cash-use quarter each year, Q2 and Q3 use less, Q4 is the largest cash generation, and they expect positive operating cash flow for the fiscal year.
"So I think capital placement is a good way to think about driving NanoKnife, but we think that the better way to think about it is disposable growth." — Stephen A. Trowbridge (CFO)
New accounts, NanoKnife disposables, gross margin
Q (John Young · Canaccord Genuity): He asked how many new accounts opened and growth from new versus existing accounts, and whether competitor disruption helped. He also asked why NanoKnife disposables fell 20% sequentially and about gross margin drivers beyond tariffs and Costa Rica.
A: Management said they track new business by competitive conversions, doctors using the device, and hospitals putting product in stock, and that recent sales hires are now contributing. On NanoKnife disposables they said the business is more mature and seasonal, with Q4 typically the strongest and stocking not a material factor; they are seeing rising procedure volumes. On gross margin they said remove the tariff refund to see a baseline (citing 57.8% versus 59%), and that price, product mix, and Costa Rica cost savings are helping the underlying margin trend.
"Q4 for us is always our highest quarter." — Stephen A. Trowbridge (CFO)
NanoKnife for BPH and R&D budget
Q (Katie · H.C. Wainwright): She asked what the relief program must show (symptom improvement, durability) to justify a larger BPH program. She also asked if the next stage would fit within current R&D spending or require more.
A: Management said relief is early-stage work to build the BPH business case and they need to study how NanoKnife affects tissue. They said the pilot study will not answer durability and durability remains a focus. They said they target around 10% of sales for R&D going forward, which would include growth.
"I do not think our pilot study is going to answer the durability, but it is something that we are going to continue to be focused on." — Stephen A. Trowbridge (CFO)
AURYON customers and NanoKnife adoption
Q (Freedom Broker): She asked whether moving peripheral cases to office-based labs changed the go-to-market and whether those customers differ from hospital accounts. She also asked who is adopting NanoKnife for prostate and what holds back sites from steady volumes after buying a generator.
A: Management said they launched AURYON into office-based labs in 2020, learned that market, and later shifted reps to hospitals, so they now pursue both settings and see different economics but win clinically in both. They said NanoKnife growth is now driven by prostate, with many regional hospitals and community urologists adopting it, and that barriers to higher procedure volume vary by physician but include access to capital, placement models, and reimbursement; they noted positive clinical follow-up data and that buying a system shows strong physician commitment.
"So starting on the first question, what is driving NanoKnife results these days is prostate." — Stephen A. Trowbridge (CFO)